Im back.

Hopefully I will be able to trade a little more as some time has freed itself. I will try to post more often now that I have this time. As I look for plays for tomorrow I see two that interest me. One is DSUP. This company has had a spike with no news and is approaching a resistance point. I will be watching what it does when it hits that point. If it breaks it I may go long, and if it cant I will definitely go short. The next play is PCSV. This is an OTCBB stock so I dont know that I will actually play this one but it had a big spike and also its first down day was today. Tomorrow should be a pretty big down day if everything goes as planned. I am still looking for plays so I will update if I find more.

MESA is back

MESA spiked a little today on some slight news. Ill be watching it to go back up to about a dollar and if it cant break it, I’ll short it for the same play I used before. It could break a dollar and if that happens I’ll think about going long due to the positive news that came out.

Too busy

Sorry for not updating the past few days but I have been very busy with work. I think I might switch strategies temporarily and go toward a little more long term. By long term i mean weeks or months, not necessarily years. What I am trying to do is build up my account until I have enough money to actually make some money. So if I buy into a stock and am making good returns, I might sell just to seal in profit and look for another opportunity. I will let you know what I find and I will also be looking for stocks that fit my old strategy as well. I just probably wont be able to act on any of them.

Good timing and some choices for tomorrow

Pshew, luckily I exited MESA when I did because it closed at $.73. A good .10 above where I covered. I profited $69.71 from an initial $150. Not bad for a n00b. Anyways, here are some picks that I’m gonna be watching for tomorrow. KBX had its real first down day after a pretty good spike so I will be watching for a spike up in the morning to short into. This might be a play for me but I need to compare it based off of gain possibility. These others arent plays for tomorrow but possibly this week. NYNY, KRY, WCI, MMGW, IFUE.

Finally Covered

I finally covered MESA at .6486 for a profit of $70. That’s a 46% gain on this trade so I am pretty happy. My total money is at $552 now after me depositing some money and the profit I made today. I will be watching for my next trade closely and will let you know what I decide.

MESA

Ok so I didnt get out of MESA like i thought I was going to. But, it ended up being the best move as it closed at .67. I really do think this is gonna keep going down so I may just put up a stop loss and play it out. The people over at TheMarketKid lost quite a bit of money on IMB. I’m glad I stayed out of that one. UBET kept going up. It did have a brief break in its increase but its still going up. When this does come down it should be a pretty good gain. NTHH dropped considerably. Its a good .25 gain for anyone who found shares. TSYS is down for the day. Tomorrow morning is possibly a good chance to short into it. Be careful for any strength though as earnings could still propel it higher. KBX also rose today. Ill be watching this one to bounce off of the $2 mark. Hope everyone made a lot of money today.

COMMENTS!!!!!

Come on people, I know my site is being looked at by at least a few people. The only way we can learn is by asking questions. If you think I am wrong about one of my pics let me know. I’m not an expert at this so you may know better than me. Thank you Z for posting questions and at least keeping me busy. I appreciate it.

New stocks to watch

Thanks to InvestorsLive I have a few more stocks to add. KBX, HDY, TSYS. Watch for KBX to test $2 and then come back down. HDY has repetitively shot up, came back down, and shot up again. I would watch this for a quick drop but I wouldnt hold it for more than a day or two as it could shoot up as it has in the past. And finally TSYS. TSYS is at its high for quite some time and the next visible resistance is at 5.20. Look for it to test $5 and if it breaks that it should continue. If there’s any weakness testing 5 it could be a good $1 or so gain/share.

Watch List Edit

I researched a few of my watch list stocks and realized that while the chart and company itself fit the profile, the volume did not. Volume is a must when shorting stocks because if there are not any stocks available, you can be forced to watch your stock go up and up and your bank go down and down. You want at least 100,000 avg daily volume to be safe. UBET so far is my favorite but watch it due to the earnings. I will be looking for a few more stocks to watch for the week and will let you know if I come across any.

Watch List

The stocks on the watch list are all stocks that seem to exhibit some qualities of the strategy I am using. They have all spiked up considerably in the past few days and the news doesnt seem to justify the increase. I am still currently holding my MESA stock but will be looking to sell on monday morning. Hopefully it will spike down early morning so I can get out at an even better price. So far I am at around $55 profit from MESA. I’d say its been a pretty good trade so far since I’m up 40%. Once I am free of MESA, I will be looking for which stock brings me the greatest possibility of profiting. I’m not looking for big bucks here, I am only trying to build my account so I can make more trades instead of putting my entire bank roll into one trade. One stock that I do not have on my watch list is AYSI. It had a very impressive spike recently and there is absolutely no news. One drawback is that it is a .OB stock which I believe means the commission is $20 instead of the usual $5. This is devastating for someone only using $500.